Get started

Euraudanalysis

EurAud- New leg up after flag's break? (Good R:R trade)After the low at the 1.43 zone, EurAud broke above falling trend line resistance in September and at the beginning of October also broke above 1.52 horizontal resistance confirming a double bottom in place. In mid-October, the pair reached a local high and started to correct. The drop from this high is contained in a flag pattern and the low of it coincides with a retest of the broken horizontal level. At this moment the odds are favoring bulls and a new leg up could follow after the flag's break. The target for such a move could be the next important horizontal resistance above 1.6.
Long
by Mihai_Iacob
10
EurAud to rise above 1.6 (medium term outlook)Since the late August low at 1.43, EurAud has started to rise and, after reaching my 1.52 target, the pair broke above this resistance and confirmed a double-bottom pattern. At this moment EurAud is consolidating and slightly correcting this recent up move and a new wave of gains could come soon. 1.52 is very strong support at this moment and, in my opinion, any dips to that zone should be bought. The target for bulls can be above 1.6, a level very well defined and also the double bottom's measured target.
Long
by Mihai_Iacob
13